Global Agriculture Equipment Market by Product (Harvesters, Tractors), by Application (Sowing & Planting, Harvesting & Threshing) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global agriculture equipment market was worth USD 139.0 million in 2018. It is projected to grow at an 8.9% compound annual growth rate (CAGR), from 2019 to 2025. The market is expected to grow due to farmers adopting modern technologies to increase their farm yield and meet rising food demand. Modern agricultural machinery is replacing traditional farming methods such as plows and tillage. To improve crop quality and yield, advanced farming machinery like spraying equipment and hay and forage gear, harvesters, irrigation and crop processing tools are being used.

The incorporation of new technologies in farm machinery is expected to drive significant growth in the global market. To increase productivity, many farm machinery manufacturers are now focusing on the integration of technologies like Google Earth, GPS and robotic systems into their equipment. The government subsidies and low rates offered by emerging countries to farmers to adopt agricultural machinery are another key reason for the expected growth.

Easy farming is possible with the help of agriculture equipment. It improves crop quality and reduces labor costs. Due to the integration of many new technologies, the market will experience high growth during this period. The demand for food is growing globally, which puts pressure on agriculturists who must invent cost-effective and time-efficient ways to produce it. This will boost the farm machinery market.

Technologically-advanced agricultural robotics, such as ground-based sensors, autonomous tractors, and flying drones, aid farmers in producing food at low costs to fulfill growing demand for food. The adoption of GPS software products, telematics-equipped tractors and other agricultural machinery is expected to increase sales over the next few years. Key growth opportunities are also expected to be provided by the increasing use of cost-cutting strategies in designing farm equipment. Market expansion will be possible due to the increasing number of suppliers and government subsidies.

Product Insights

The top product category was tractor, which contributed more than 25% to the total revenue for 2018. These machines are indispensable farm machinery that can be used in combination with other implements or as a stand-alone equipment. Due to the increasing rate of automation and growing population, it is expected that tractors will continue to be sold over the forecast period. This will increase pressure on productivity and food production.

The market for agriculture equipment will have a greater share than 21.0% by 2025. This is a more than 10% CAGR over the forecast period. This is due to farmers preferring harvesters to increase their production and reduce dependency on farm labor. Harvesters are also highly productive and economical, two factors that will drive product demand to 2025.

Application Insights

In 2018, the share of land development and seedbed preparation was 23.0%. The highest expected CAGR for harvesting and threshing is more than 10.0% during the forecast period. A shortage of farm labor is the main reason for an increase in demand for farm products in many applications such as land development and plant protection. Labor employment is becoming more expensive because agriculture is labor-intensive and takes a lot of time. This is made worse by the scarcity of labor supply in certain areas of the world, which is due to shifting of attention among workers towards other jobs.

Increasing agricultural yield can be achieved by tractor equipped with technology such as the Global Positioning System (GPS), which allows for row and vehicle tracking. The machinery for agriculture is used to sow and plant, weed cultivation, harvesting and shreshing as well as post-harvest and agro processing.

Regional Insights

The farm machinery industry will be driven by strong economic growth in emerging countries like India, China, and the Middle East. Asia Pacific will be the largest market and experience the fastest growth during the forecast period. China alone accounted for more than 30% of regional revenue in 2018. Low levels of mechanization and vast areas of agricultural land can explain the region's growth. However, the Asia Pacific region is seeing a gradual increase in mechanization of different agricultural processes, which will spur agricultural machinery demand over the forecast period.

North America accounted for a greater share than 22.0% of the global market in 2018, and it is expected to continue its strong growth through 2025. This can be attributed to the introduction and use of newer machines that are more fuel efficient and have better features. In North America, the demand for farm equipment is driven by a shortage of farm labor.

Market Share Insights & Key Companies

Global market is highly competitive due to the absence of many prominent players and the existence of several small- and medium-sized players. John Deere and AGCO are key players in this market. These companies compete on the basis of product quality, availability and technological advances. Mergers and acquisitions are also being done in an effort to increase market share and expand product lines.

AGCO Corporation, for example, announced in October 2017 that it had acquired Lely's Hay and Forage Division. This division offers a variety of products including rakes and mowers, tedders loader wagons round balers and tillage products. AGCO Corporation acquired the division to expand its range of hay products and forage products.

• John Deere

• AGCO

• Mahindra & Mahindra

• CNH Industrial N.V.

• Iseki & Co. Ltd.

• Kubota

Up Market Research published a new report titled “Agriculture Equipment Market research report which is segmented by Product (Harvesters, Tractors), by Application (Sowing & Planting, Harvesting & Threshing), By Players/Companies Mahindra & Mahindra, CNH Industrial NV, AGCO, Kubota, Iseki & Co Ltd, John Deere”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Agriculture Equipment Market Report Segments:

The market is segmented by Product (Harvesters, Tractors), by Application (Sowing & Planting, Harvesting & Threshing).

Agriculture Equipment Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Agriculture Equipment Market

Overview of the regional outlook of the Agriculture Equipment Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Agriculture Equipment Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Agriculture Equipment Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Harvesters

                2. Tractors

                1. Sowing & Planting

                2. Harvesting & Threshing

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Agriculture Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Agriculture Equipment Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.